To create and maintain a small, agile personal fitness business that can offer specilised membership contracts that franchise gym chains cannot. This includes short term membership contracts (3 months instead of the traditional 6 months and higher), 24/7 operating hours for all members and personalised service that larger franchises restricted by regulations cannot offer.
Business Objectives
The current market environment for gyms and personal fitness is one filled with large franchises and fitness chains.
Whilst this market can be viewed as difficult to break into as a result, it is also a market with a disgruntled customer base who are unsatisfied with long-term membership contracts that are filled with hidden fees and expenses, as well as gyms with defined, short-term operating hours (8am - 7pm, 6 days a week). This presents a key gap in the market place where a small, agile business that is not tied down by franchise regulations can make its mark.
Short-term Objectives:
Establish viable business
Gain supremacy over local demographic gym market.
Long-term Objectives:
Expand into appropriate demographic areas, ensuring niche business traits remain.
Business Location
The business will be located in a rented space, close to centres of business and employment. The key customer demographic will be local full-time employees looking for a gym that operates outside their office hours. Marketing can also advertise the business to any local schools/universities if any are located within a reasonable via public transport (a location close to a major train station is also preferable) .
The proposed suburb for the business is North Sydney.
See Establishment Costs section for estimated renting prices.
Potential Customers
The proposed business can potentiallly hold a niche position within the market, one that moves away from traditional long-term memberships (6 months and higher) to shorter term contracts (3 months). In addition, very few of the major franchises operate 24/7, and those that do are only at select locations. A gym that can meet both of these demands, and offer customers more personalised contracts can build a very strong customer base which is sourced from its competition. Statistics show that people often switch between various gym franchises overtime, until they find what they believe to be 'the best bargain'. If our proposed business can intercept these potential customers during this phase, its unique products will do the rest.
Staffing Requirements
The operational staff of the business itself is very small. As a 24/7 business, the minimum requirement for on-site staff at any time is:
Office Manager/Receptionist
Personal Trainer (for previously agreed booking times)
Other staff may be on-site at other times, however they will be operating the business side of the company. These staff members include an:
Accountant
Marketing Supervisor
All staff members will initially be establishing partners of the business (no short-term need for wages to be accounted for in the budget).
Feasibility Study
Business Idea
To create and maintain a small, agile personal fitness business that can offer specilised membership contracts that franchise gym chains cannot. This includes short term membership contracts (3 months instead of the traditional 6 months and higher), 24/7 operating hours for all members and personalised service that larger franchises restricted by regulations cannot offer.
Business Objectives
The current market environment for gyms and personal fitness is one filled with large franchises and fitness chains.
Whilst this market can be viewed as difficult to break into as a result, it is also a market with a disgruntled customer base who are unsatisfied with long-term membership contracts that are filled with hidden fees and expenses, as well as gyms with defined, short-term operating hours (8am - 7pm, 6 days a week). This presents a key gap in the market place where a small, agile business that is not tied down by franchise regulations can make its mark.
Short-term Objectives:
Long-term Objectives:
Business Location
The business will be located in a rented space, close to centres of business and employment. The key customer demographic will be local full-time employees looking for a gym that operates outside their office hours. Marketing can also advertise the business to any local schools/universities if any are located within a reasonable via public transport (a location close to a major train station is also preferable) .
The proposed suburb for the business is North Sydney.
See Establishment Costs section for estimated renting prices.
Potential Customers
The proposed business can potentiallly hold a niche position within the market, one that moves away from traditional long-term memberships (6 months and higher) to shorter term contracts (3 months). In addition, very few of the major franchises operate 24/7, and those that do are only at select locations. A gym that can meet both of these demands, and offer customers more personalised contracts can build a very strong customer base which is sourced from its competition. Statistics show that people often switch between various gym franchises overtime, until they find what they believe to be 'the best bargain'. If our proposed business can intercept these potential customers during this phase, its unique products will do the rest.
Staffing Requirements
The operational staff of the business itself is very small. As a 24/7 business, the minimum requirement for on-site staff at any time is:
Other staff may be on-site at other times, however they will be operating the business side of the company. These staff members include an:
All staff members will initially be establishing partners of the business (no short-term need for wages to be accounted for in the budget).
Establishment Costs
See Set-up Costs page.